Gold price on May 18: SJC gold bars decreased to 118.5 million VND/tael

In the domestic market, at the end of the week, gold bars were traded at 118.5 million VND/tael, down 3.5 million VND compared to the same day last week; SJC gold rings were traded at 114 million VND/tael.

Gold price statistics of Dragon Viet Online Service Joint Stock Company VDOS - Updated at 10:00 on May 18.

Specifically, at 10:00 a.m. on May 18, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at 115.5-118.5 million VND/tael.

The price of SJC 9999 gold ring closed the week at 111 million VND/tael for buying and 114 million VND/tael for selling.

DOJI gold bar price in Hanoi and Ho Chi Minh City is bought at 115.5 million VND/tael and sold at 118.5 million VND/tael.

This brand listed the buying and selling price of Doji Hung Thinh Vuong 9999 gold ring at 111-114 million VND/tael.

PNJ Gold is currently buying at 111 million VND/tael and selling at 114 million VND/tael, unchanged from the previous closing price.

As of 9:00 a.m. on May 18 (Vietnam time), the world gold price dropped sharply by 27.8 USD/ounce compared to the previous trading session's close, down to 3,201.7 USD/ounce.

Last week, the world gold price continued to fall, making experts and retail investors less optimistic about this precious metal in the short term. Industry experts will be cautious next week, while retail traders have given up on the bullish trend after the recent decline in gold prices.

Spot gold prices started the trading week at $3,281.36 an ounce and then, the yellow metal slid from $3,277.53 to $3,221.36 in just half an hour.

The next sharp sell-off occurred on Wednesday morning, when spot gold prices fell from $3,237 an ounce to $3,180.

Gold prices then recovered, but lacked the momentum to continue rising and ended the week around $3,200/ounce.

This week, only two (16%) of the 16 Wall Street analysts participating in the latest Kitco News weekly gold survey see gold prices rising next week. Ten (63%) see gold prices falling. The remaining four (25%) see gold prices moving sideways next week.

World gold price chart on May 18.

Meanwhile, 294 Main Street retail investors participated in Kitco News’ online survey. Of those, 100 retail traders, or 34%, still expect gold prices to trade higher next week. 123, or 42%, expect gold prices to trade lower. The remaining 71 investors, or 24%, are neutral.

Adrian Day, chairman of Adrian Day Asset Management, predicts that gold prices could fall further in the coming weeks as the United States announces new tariffs on its trading partners. This is an opportunity for investors to consider buying, according to Adrian.

“Gold prices are likely to continue to trade lower with a floor above $3,000 an ounce,” said Adam Button, head of currency strategy at Forexlive.com.

Mark Leibovit, publisher of VR Metals/Resource Letter, also believes that gold may have peaked for now and that a drop to $2,900 is possible.

This morning, the USD-Index increased slightly to 101.09 points; the yield on 10-year US Treasury bonds was at 4.443%; US stocks recorded a positive week, investors are waiting for a stronger catalyst; world oil prices recorded the second consecutive week of increase, trading at 65.41 USD/barrel for Brent oil and 62.49 USD/barrel for WTI oil.

nhandan.vn

Source: https://baolaocai.vn/gia-vang-ngay-185-vang-mieng-sjc-giam-xuong-muc-1185-trieu-dongluong-post401977.html